Vishnu Chemicals Limited has entered a 50:50 joint venture with France's DCX Chrome SAS to build a high-purity chromium metal manufacturing facility in Vishakhapatnam, Andhra Pradesh. This greenfield project will leverage DCX’s proprietary technology alongside Vishnu Chemicals’ raw material supply chains. The JV, initially capitalized at INR 1 lakh, marks a strategic move to boost specialized chemical production capacity in India, with both firms holding equal board representation and shared decision-making rights.
Vishnu Chemicals Enters Joint Venture with France's DCX Chrome SAS
Vishnu Chemicals Limited and DCX Chrome SAS have signed a 50:50 joint venture agreement to establish a greenfield high-purity chromium metal plant in Visakhapatnam, Andhra Pradesh. The facility will have an initial capacity of 6,000 tonnes per annum (TPA), with both partners contributing equally to the initial paid-up equity of INR 1,00,000.
Reader Takeaway: The JV combines French specialized technology with domestic raw material advantages to scale high-purity chromium production.
What just happened
Vishnu Chemicals and the French-based DCX Chrome SAS, a subsidiary of the Delachaux Group, have formalized a partnership to localize high-purity chromium production in India. The agreement establishes a new entity where both parties hold equal equity and equal board representation, ensuring shared governance for key strategic decisions.
Why this matters
This venture allows Vishnu Chemicals to diversify its portfolio by integrating specialized manufacturing technology from Europe. By leveraging DCX’s technical expertise and their own robust supply chain in India, the company aims to establish a high-value manufacturing footprint in the chemical and metal additives sector.
Governance and Terms
The JV agreement is structured to ensure balanced control. Key decision-making processes are subject to affirmative consent from both partners. The pact also includes standardized corporate provisions covering share transfers, pre-emptive rights for existing shareholders, and formal mechanisms for resolving potential deadlocks.
Context Metrics
Vishnu Chemicals reported a turnover of Rs 1,600 crore for its Indian operations in FY 2025-26. Their partner, DCX Chrome SAS, recorded a turnover of €122 million for FY 2024-25, while its parent entity, the Delachaux Group, posted a total turnover of €1,013 million during the same period.
What to track next
Investors should monitor the timeline for project land acquisition, regulatory clearances for the Visakhapatnam site, and the commencement of construction activities for the 6,000 TPA facility.